Best of the Brokers for 14 August 2013

WHITBREAD
Panmure Gordon has downgraded the leisure group from “hold” to “sell”, with a decrease in target price from 2688p to 2644p. Despite a strong performance from Costa, the broker thinks that the coffee chain and Premier Inn will reach saturation in the UK sooner than anticipated.

HOCHSCHILD MINING
UBS has started covering the miner with a “neutral” rating and target of 210p. The broker sees a chance of modest price rises in gold and silver, following the sharp fall in recent months, but sees Hochschild as a high-cost producer and prefers Fresnillo as a play on the precious metals.

CINEWORLD
Numis has an “add” rating and price target of 425p ahead of the cinema chain’s first-half results tomorrow. The broker expects pre-tax profits to rise 22 per cent to £16.4m on admissions per screen up 5.4 per cent on a like-for-like basis.